Demand stays strong per WOS

[alangloi]

My St. John's Town Center Mayor's Jewelers is down for remodeling and more (I think); That being said, https://finance.yahoo.com/news/deman...144413832.html was posted about a hour ago.

Headline: Demand for Rolex watches jumps as super-rich shrug off inflation crisis

"This has meant growing wait-lists for the pieces."

Edit: The website related to Mayors is now saying "Service options: No in-store shopping". It was saying "temporarily closed". I don't live all that close to the Town Center and have not gone by there to find out what's going on there. My last understanding was that Mayor's at the Town Center was unable to sell Rolex watches until they re-model the store to Rolex policies, which I assume they are currently in the process of doing.

[bluestreak]

It’s looking more and more like there may not be a recession at all (at least in the US) and inflation seems to be calming.
This is despite almost everyone predicting one, which I’m certain had to have at least a small effect on luxury good spending. Which I imagine will rebound if a recession doesn’t happen.

So the, “I can’t wait until we start seeing GMTs is cases for sale” predictions might not come to fruition.

[Tylerlsu2008]

I’ve also seen articles saying the exact opposite.

I’ll stick with my guns on this — I think the “non-watch” people are starting to flush out the market. And the more watches we start to see again, the less appealing they will be.

Humans are funny

[Notepad12]

Actually seeing watches in the case for sale (PM/TT) is saying the opposite

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[East of Eden]

Originally Posted by alangloi

My St. John's Town Center Mayor's Jewelers is down for remodeling and more (I think); That being said, https://finance.yahoo.com/news/deman...144413832.html was posted about a hour ago.

Headline: Demand for Rolex watches jumps as super-rich shrug off inflation crisis

"This has meant growing wait-lists for the pieces."

Edit: The website related to Mayors is now saying "Service options: No in-store shopping". It was saying "temporarily closed". I don't live all that close to the Town Center and have not gone by there to find out what's going on there. My last understanding was that Mayor's at the Town Center was unable to sell Rolex watches until they re-model the store to Rolex policies, which I assume they are currently in the process of doing.

Not true, I was at Mayor's Town Center Tuesday and they are open as normal, they even had a RG two-tone for sale, can't remember which model.

[Tylerlsu2008]

Originally Posted by Notepad12

Actually seeing watches in the case for sale (PM/TT) is saying the opposite

Agreed — the full blown FOMO is gone.

[Calatrava r]

Have yet to see any softening here. Seems like we are well due for a downturn in watch sales, even one very slight.

[Solo118]

Oddly enough, 1 year ago exactly I received 2 "calls" for what I asked for.... this year... Zero!

I did get offered a few pieces that I passed on, but I did not request them nor did I want them.

[Solo118]

Originally Posted by Tylerlsu2008

Agreed — the full blown FOMO is gone.

FWIW, steel sports models (at least as of today) will likely always be hidden in the back, not on display. I can see TT/18k being easily available depending on the model.

[Vipes]

Demand is still strong here also. Noticed a big line to get into Rolex boutique this past weekend. Only thing different is I see more exhibition models.

[DavidUK]

2 months ago a used SS GMT Pepsi ceramic was £20k in the UK, few for sale.

Today under £15k, many for sale.

It's sell, sell, sell over here. And just who is going to buy over list until used prices bottom out?

[enjoythemusic]

Demand still outstripping supply.

BTW am watching the WSOP 2023 and there are quite a few Rolex and other fine timepieces. In fact, the commentators have been mentioning them too on occasion.

[JC316]

If the news is reporting it, then it's dropping. They are ALWAYS behind.

[JC316]

Originally Posted by DavidUK

2 months ago a used SS GMT Pepsi ceramic was £20k in the UK, few for sale.

Today under £15k, many for sale.

It's sell, sell, sell over here. And just who is going to buy over list until used prices bottom out?

Facts

[rolexgs]

Originally Posted by JC316

If the news is reporting it, then it's dropping. They are ALWAYS behind.

like they were year and a half behind when the demand was really high? I doubt it.

[Harry-57]

Originally Posted by JC316

Facts

Absolute numbers mean nothing, trends are indicative. Throughout 2023, C24 has the average selling price for 126710BLRO at slightly above £18K and holding. If the sales trend is steady prices are not dropping. The big drops occured last year.

If you extrapolate the trends from 2020 ignoring the 2021 anomaly, trading values are around about where they would be expected. C24 tends to put values on the high side because it's averaging a world wide market of considerable diversity in asking price. However, the average selling price gives a trend which is reliable. Some models are trending down although not by much, the 126710BLRO is not.

[JC316]

Originally Posted by rolexgs

like they were year and a half behind when the demand was really high? I doubt it.

Keep your head in the clouds! That's fine with me!

Originally Posted by Harry-57

Absolute numbers mean nothing, trends are indicative. Throughout 2023, C24 has the average selling price for 126710BLRO at slightly above £18K and holding. If the sales trend is steady prices are not dropping. The big drops occured last year.



If you extrapolate the trends from 2020 ignoring the 2021 anomaly, trading values are around about where they would be expected. C24 tends to put values on the high side because it's averaging a world wide market of considerable diversity in asking price. However, the average selling price gives a trend which is reliable. Some models are trending down although not by much, the 126710BLRO is not.

Wait.... you're not really using C24 to build your case... are you?

[clubrcr]

Originally Posted by alangloi

My St. John's Town Center Mayor's Jewelers is down for remodeling and more (I think); .

I was at Underwoods a couple of weeks ago and the sales associate told that Mayors at Town Center had lost their Rolex franchise.

[kkqd1337]

Watches of Switzerland are just saying what they want their investors and shareholders to hear.

[Rolexatlast]

Man that sells watches says buying watches is good investment

[alangloi]

Originally Posted by East of Eden

Not true, I was at Mayor's Town Center Tuesday and they are open as normal, they even had a RG two-tone for sale, can't remember which model.

That's good to know; I was in the area two weeks ago and didn't stop by the store as the web they said were temporarily closed. I only go to the town center area twice a year. The last time I was there (about six months ago) they had no Rolex watches in the display case, and the floor manager explained why.

[East of Eden]

Originally Posted by alangloi

That's good to know; I was in the area two weeks ago and didn't stop by the store as the web they said were temporarily closed. I only go to the town center area twice a year. The last time I was there (about six months ago) they had no Rolex watches in the display case, and the floor manager explained why.

Lots of Rolex watches in the display cases there

[Jsanders1985]

Originally Posted by alangloi

That's good to know; I was in the area two weeks ago and didn't stop by the store as the web they said were temporarily closed. I only go to the town center area twice a year. The last time I was there (about six months ago) they had no Rolex watches in the display case, and the floor manager explained why.

I spoke with the manager at Mayors about 2 months ago and she said they are not a Rolex AD for the next year or so while they undergo renovations. They do sell used Rolex watches now though.


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[Jsanders1985]

Originally Posted by East of Eden

Lots of Rolex watches in the display cases there

Those are used watches.


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[alphadweller]

Inflation is stabilised but it's going to be sticky for a while with possibly more interest hikes to come. Availability seems to be mildly improving while demand is softening. That's where we're at.

[enjoythemusic]

So, I can walk in and get a Sub, or Pepsi? Surely a DD40 of my choosing. Yes?

[Fleetlord]

***It's Not Happening***

At least not yet. Far from it.

Plenty, plenty, plenty of people still have gobs and gobs of easy and discretionary money to spend on whatever they would like...including Rolex watches...

Some of that attention (and money) is being diverted to fun vacations and adventures now that things are settled down in terms of travel...so the prices have settled out a bit...but it's not anywhere close to being a fire sale...come get your Rolex at 20% off!!!!

[alangloi]

Originally Posted by Jsanders1985

I spoke with the manager at Mayors about 2 months ago and she said they are not a Rolex AD for the next year or so while they undergo renovations. They do sell used Rolex watches now though.

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That was pretty much my understanding from my discussion of six months ago. I did a search of the official Rolex web site for Rolex dealers, and although there are Mayor's dealers listed in South Florida as a AD, the only AD listed in NE Florida is currently Underwoods.

Thank you for the information, saves me a trip to the Town Center in this warm Florida Summer weather... :)

[Yobber76]

Current shoppers have trained themselves to believe that because you can't walk into a store and buy something at the MSRP, that the online prices are the real prices. And yes, if you have FOMO and have to have it now, they are the real prices. Really inflated prices.
So when a $9000 (new) watch which was selling for $18,000 (used) online and is now $15,000, people think the market has moved down. To me it's now $6-8000 inflated, and I have no interest in buying it.
As long as some Rolex, or AP, or PP models can sell on the market used at a substantial premium to MSRP, the market isn't crashing. As long as you can walk into an AD and they tell you they have no Rolex watches for sale, (whether they have them in the safe or not) the market isn't crashing. Buying a TT DJ 41 at $3,000 above MSRP when you wanted a BLRO, isn't winning to me. Buying $30k worth of jewelry to buy a $10,000 watch isn't winning to me. I'll buy a Breitling or a Panerai new with a discount, and walk out of the store wearing it.

[dannyp]

Imagine that: a self-serving statement from a company that lives and dies on its ability to quickly turn inventory of watches (and is probably not a few months from insolvency if the market takes a massive dive).